Synopsys, Inc. (NASDAQ:SNPS) Holdings Trimmed by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 795 shares of the semiconductor company’s stock after selling 140 shares during the period. SevenBridge Financial Group LLC’s holdings in Synopsys were worth $421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SNPS. Kesler Norman & Wride LLC acquired a new stake in Synopsys during the 4th quarter worth about $315,000. Wisconsin Capital Management LLC lifted its position in shares of Synopsys by 1.7% in the fourth quarter. Wisconsin Capital Management LLC now owns 1,582 shares of the semiconductor company’s stock worth $768,000 after purchasing an additional 27 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Synopsys during the fourth quarter worth approximately $17,792,000. Boston Family Office LLC grew its position in Synopsys by 1.0% during the fourth quarter. Boston Family Office LLC now owns 4,405 shares of the semiconductor company’s stock valued at $2,138,000 after purchasing an additional 42 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after buying an additional 75,298 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 0.6 %

NASDAQ:SNPS opened at $438.55 on Thursday. The firm has a market capitalization of $67.81 billion, a PE ratio of 30.20, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $422.65 and a 1 year high of $624.80. The firm’s fifty day simple moving average is $479.67 and its 200 day simple moving average is $504.45.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of several research analyst reports. Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Piper Sandler reduced their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.